(Illustration by Nick Scalise)
Posted at 10:36 am – Corn corn is down 5 cents and corn soybeans are down 24 1/2 cents. May KC wheat is up 2 1/4 cents and May Minneapolis wheat is down 3/4 cents. April crude oil is up $1.69 and Dow Jones futures are down 106 points. The US Dollar Index is down 0.08 and Gold is up $9.40 in April. The meltdown in soybeans and soy flour continues into the morning session, while corn sits right at a key support level and wheat has started trading higher. Wheat futures were extremely oversold.
Posted at 08:34 — After Tuesday’s 8:30 CST open, crop prices are starting to fall again with soybeans and meal leading the sector lower, pressured by progress in Brazil’s soybean crop. Corn is down 4 cents and May soybeans are down 20 1/2 cents. May KC wheat is down 6 3/4 cents and May Minneapolis wheat is down 3 1/2 cents. Crude Oil in April is up $1.61 as traders monitor the economic report out of China. Dow Jones futures are down 66 points, the US dollar index is down 0.05 and gold is down $3.20 in April.
OMAHA (DTN) – April live cattle are up $0.60 to $165.575, April feed cattle are up $1.03 to $195.25, April lean hogs are up $0.28 to $84.45 $ down, corn is down 11 1/2 cents a bushel and soybean meal is down $14.00 in May. The Dow Jones Industrial Average is down 122.15 points. Both the livestock and forage cattle markets continue to rally as traders love the start of cheaper corn as it dramatically impacts the livestock feed industry. Meanwhile, the lean hog complex is still trading lower as it struggles to find support.
Posted 08:36 – Live cattle in April are up $0.13 to $165.1, feed cattle in April are up $0.28 to $194.5, lean hogs in April are up $0.55 to 85.275 $up, Corn is down 4 cents a bushel and May Soybean Meal is down $10.00. The Dow Jones Industrial Average is down 91.40 points. The cattle market has gotten off to a mostly higher start as contracts see an opportunity to trade higher as corn prices continue to drift lower. Even the lean hog complex is trading higher early Tuesday, which could be due in part to a higher percentage of pork on Monday afternoon.
(c) Copyright 2023 DTN, LLC. All rights reserved.
Comments are closed.